Officer Pensions

Crow

Will an Officer be financially disadvantaged if they decide to convert their Commission type from an Intermediate Regular Commission (IRC) to a Regular Commssion (RegC) and subsequnetly decide to leave the Service at their 16 year point, which would have coincided with the completion of their IRC?

I have been offered a RegC, however I do not wish to commit myself and be financially disadvantaged if I subsequently decide to leave at the 16 year point.

Old-Salt

Yes. Officers have two different rates - PVR and Compulsory Retirement rates, of which Compulsory Retirement rates are more beneficial. If you were to leave at the 16 year point at completion of IRC you would get Compulsory Retirement rates as you have completed your contract. If you convert to Reg C and subsequently leave at the 16 year point then you have not completed your (new) engagement and will receive the PVR rate.

All that is assuming you are on the old pension scheme of course - haven't quite got my head around the new one yet!!

Crow

Many thanks for the quick response, however I would like to slightly complicate the question.

My IRC is due to be completed 3 years after the point at which I can leave the Army with an immediately payable pension (I previously served as a soldier). Therefore I lwill leave on the PVR rate if I do decide to leave the Army at this point.

Will there be a finacial affect on my pension if I am on an IRC or RegC when I PVR?

War Hero

Another officer related pension enquiry. I a long time ago was awarded a Reg C commission - at the tender age of 16. I was given no choice or other options. How can the army legally pay me less should i decide to leave at say the 16 yr point ?

Bear in mind that when i signed the contract i was still legally a minor ??

Never attibute to malice that which can be ascribed to sheer stupidity.

"They say Violence never solves anything.....What about WW2 it solved that pretty well"

Old-Salt

Many thanks for the quick response, however I would like to slightly complicate the question.

My IRC is due to be completed 3 years after the point at which I can leave the Army with an immediately payable pension (I previously served as a soldier). Therefore I lwill leave on the PVR rate if I do decide to leave the Army at this point.

Will there be a finacial affect on my pension if I am on an IRC or RegC when I PVR?

Ther are only one set of PVR rates, so irrespective of whether you PVR from an IRC or Reg C commission you will get the same amount. It is based on number of years service completed and rank criteria - not the unfulfilled portion of your commission (or contract).

In order to leave on compulsory rates you would need to complete the IRC, which in your case is the Immediate Pension Point plus three years if I understand your position correctly.

Old-Salt

Another officer related pension enquiry. I a long time ago was awarded a Reg C commission - at the tender age of 16. I was given no choice or other options. How can the army legally pay me less should i decide to leave at say the 16 yr point ?

Bear in mind that when i signed the contract i was still legally a minor ??

LE

Basically your 'soldier service' is halved and given back to you as seniority, which is then deducted from your IRC - in this case.

I am due to hit my 16 year point in 2012 - but I will only have actually served 13 years by that point, as I got 3 years back for seniority. I was supposed to get 4 years back, but apparently 3 is the maximum unless you did a Master's at Uni.

And in answer to your other question - yes - very much disadvantaged if you convert then leave anyway.

Crow

Basically your 'soldier service' is halved and given back to you as seniority, which is then deducted from your IRC - in this case.

I am due to hit my 16 year point in 2012 - but I will only have actually served 13 years by that point, as I got 3 years back for seniority. I was supposed to get 4 years back, but apparently 3 is the maximum unless you did a Master's at Uni.

And in answer to your other question - yes - very much disadvantaged if you convert then leave anyway.

You should have joined the police force. Pay 10% pension contribution, and retire on 2/3 final salary inflation proofed. PC writing out speeding tickets and filling his face with doughnuts in Brecon, risky business with all the trouble there - not, after about 7 years earns roughly Â£30K plus overtime, retires at 30 years of service.

LE

Macchi, I presume therefore that you are an army scholar and that whilst you were told that you would eventually be granted a Reg C you did not receive it until you were commissioned from the factory. In any event neither of these dates are relevant as your Pension Service Date is your 21st birthday .... just like the rest of us.